Greystone Investment Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,132 shares of the information services provider’s stock after selling 121 shares during the period. Alphabet makes up 6.2% of Greystone Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Greystone Investment Management LLC’s holdings in Alphabet were worth $12,842,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOG. Riggs Asset Managment Co. Inc. lifted its position in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after acquiring an additional 40 shares during the last quarter. Farmers National Bank lifted its position in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares during the last quarter. St. Johns Investment Management Company LLC raised its position in shares of Alphabet by 1,046.7% during the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the last quarter. Cribstone Capital Management LLC raised its position in shares of Alphabet by 5.7% during the second quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares during the last quarter. Finally, Baker Boyer National Bank acquired a new position in shares of Alphabet during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 34.50% of the company’s stock.
Alphabet Inc. (GOOG) opened at 972.56 on Friday. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $997.21. The company’s 50-day moving average is $954.17 and its 200-day moving average is $933.86. The firm has a market capitalization of $673.87 billion, a PE ratio of 35.25 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.06 earnings per share. Analysts forecast that Alphabet Inc. will post $30.63 EPS for the current fiscal year.
In other news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $175,544.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the sale, the chief executive officer now owns 1,764 shares in the company, valued at approximately $1,641,331.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,169 shares of company stock worth $37,644,407. Company insiders own 13.92% of the company’s stock.
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A number of brokerages have recently commented on GOOG. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Canaccord Genuity reissued a “hold” rating and issued a $1,000.00 price target on shares of Alphabet in a research report on Thursday, July 27th. SunTrust Banks, Inc. assumed coverage on shares of Alphabet in a research report on Wednesday, August 16th. They issued a “buy” rating and a $1,100.00 price target for the company. UBS AG reissued a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a research report on Tuesday, July 25th. Finally, MKM Partners reissued a “buy” rating and issued a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,036.51.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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